Biomea Fusion, Inc. (NASDAQ:BMEA) Stock Has Consensus Target Price of $7.60 According to Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.60.

Several analysts have recently weighed in on BMEA shares. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Biomea Fusion in a report on Wednesday, October 14th. Citizens Jmp reissued a “market outperform” rating and set a $7.00 price objective on shares of Biomea Fusion in a report on Wednesday, October 14th. Wall Street Zen cut shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup reiterated a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th. Finally, Brookline Capital Markets initiated coverage on Biomea Fusion in a research note on Wednesday, October 7th. They issued a “buy” rating for the company.

Institutional Trading of Biomea Fusion

A number of institutional investors and hedge funds have recently modified their holdings of BMEA. Rathbones Group PLC bought a new position in Biomea Fusion in the 1st quarter worth about $57,000. ADAR1 Capital Management LLC acquired a new stake in shares of Biomea Fusion in the second quarter worth $64,000. GSA Capital Partners LLP acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at about $318,000. BlackRock Inc. acquired a new position in Biomea Fusion in the 2nd quarter valued at approximately $1,052,000. Finally, Renaissance Technologies LLC increased its position in Biomea Fusion by 174.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after purchasing an additional 834,179 shares during the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Stock Up 1.1%

NASDAQ BMEA opened at $0.64 on Friday. The firm has a market cap of $46.56 million, a PE ratio of -2.22 and a beta of -0.28. Biomea Fusion has a 52 week low of $0.55 and a 52 week high of $2.24. The business’s fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.39.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. Research analysts expect that Biomea Fusion will post -0.65 EPS for the current year.

Biomea Fusion Company Profile

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets.

Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.